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and no entitle. reforms. >> his budget apparently will make no effort to address our debt and deficit. >> we'll sit down with leaders of the congressional budget committee. republican senator rob for theman and democratic congressman chris van hol en. plus, arizona governor jan brewer vetoes a bill that would protect religious freedom over gay rights. bu but other states may take up similar measures. and our power players of the week. they're making the please don't touch signs at mee seuseums a t of the past all right now on "fox news sunday." and hello from fox news in washington. we begin with a fast moving develop. in ukraine. president obama spoke with russian president putin and said the u.s. will suspend planning for the g-8 summit in sochi this summer. britain and france just joined the u.s. but putin got approval from the russian parliament to send troops into ukraine. and the russians have seized control of the crimean peninsula without firing a shot. ukraine's government says we are on the brink of disaster and is asking the u.s. and europe for help. let's get the latest now from
's fiscal outlook. we have cut the deficit in half as a share of the economy, experiencing the fastest fury of deficit reduction since the demobilization of world war ii. the budget continues this progress. bringing deficits down to a share of the economy to 2% by 2023 and putting the debt on a declining path. we've seen a notable and significant decline in health care spending growth over the last few years, in part due to the affordable care act, we know that over the long run, the growth of the health care costs continues to be our nation's most pressing fiscal challenge. that is why the budget builds on the savings and reforms to health reform law with additional measures to strengthen medicare and medicaid and encourage high-quality and efficient health care. we also know that revenue has to be a part of the solution to our nation's long-term fiscal challenges. given the aging of our population and the declining ratio of workers to retirees, we will need additional revenue to maintain our commitment to seniors, while also making the investments that are needed to grow our economy and e
deficits and strengthens our long-term fiscal outlook. through additional health care reforms, tax reform and by fixing our broken immigration system. we recognize the importance of the bipartisan funding compromise reached by the congress and the budget shows the president's funding priorities at the 2015 spending levels that were agreed to in the deal. however, we believe those are not sufficient, both in 2015 and beyond, and to ensure the nation is achieving its fullest potential. for that reason, the budget includes an opportunity, growth and security initiative that is fully paid for. it's split evenly between defense and nondefense and it presents additional investments in things like education, research and manufacturing. building on the model established in ryan-murray, the initial tiff is fully paid for with a balance package of spending cuts and tax reforms, so it is deficit neutral. supporting what the president said in the state of the union, the budget includes a series of measures to create jobs and accelerate growth in the economy. for example, as the mdafferings announced
convince the american people it would be different this time. >> i will. the worst budget deficit under george bush happened in his last term in office. that's when nancy pelosi was speaker of the house. budget ra $450 billion. president obama blew through those deficits. he had in excess of trillion dollar deficits year after year. what the republicans were able to do in the house is not continue that level of trajectory. has spending gone up? it absolutely has. but the level has slowed down and -- >> i get the feeling, congresswoman, maybe not you in particular, a lot of your party are giving up the fight and keeping the powder dry and hoping at the end of the year pick up more seats in the house and maybe take the senate and you bet you that will be the time when republicans get serious. but is that a lot to hang your hat on? >> well, what we need to hang our hat on is boosting the labor force participation rate. we're at the lowest level ever for anyone over age 16 actually having a job in the labor force and in a full-time capacity. that has to change. and unfortunately the preside
, and they really do look at me like i'm on medication when i tell them, the deficit is falling pretty sharply. this mode of fiscal restraint is grossly underappreciated. i will talk about that in a minute or two. this mood of fiscal restraint will persist as long as one thing continues and that is republican control of the house. toill leave it to dr. cook give us his analysis of where the houses added after the 2014 election. i think this theme has legs and will continue for quite some time. before this,d me what about all the gridlock in washington? i would agree that we look dysfunctional in this city but i would also say that we have had some fairly interesting breakthroughs in the last two or three months. we got a budget deal with paul ryan and patty murray. i think paul ryan is growing as a politician, not as reflexively conservative. i think he was willing to even look at some modest revenue increases. we got a farm bill. it wasn't great but we got a farm bill and most importantly, you see clear signs from the republican leadership in the house that they did not want a crisis over the
has supported, would reduce our deficit by hundreds of billions f $s, finally secure our border, restore the rule of law within our country, and ensure that never again do we have millions of people in this country illegally. more than a year ago, the new democratic coalition helped pave the way in immigration reform with a list of detailed principles on immigration reform. it will reduce democratic back logs, reunite families, create jobs for americans and spur competitiveness. in august we issued a letter to speaker boehner demanding he introduce a comprehensive immigration reform bill and if he failed to to so, we would introdouse our own. no bill was forthcoming so new democratic co-legislation members worked with a diverse group of colleagues on both sides of the aisle to introduce the house's only bipartisan comprehensive immigration reform bill, h.r. 15, last october. since then, we have met with countless stake holders from business owners to law enforcement to agriculture to the faith-based community. all who support moving the ball forward and support our bill, h.r. 15
. the white house budget office projects-- the proposals reduce the federal deficit to $564 billion by 20-15--- taking the defict down by about half of what the obama administration inherited. house speaker john boehner criticized the spending increases, and called it the president's "most irresponsible budget yet." radio shack is on shaky ground with investors...the stock fell 17% yesterday after turning in a larger than expected loss for the 4th quarter. the electronics retailer also plans to close up to 1,100 stores. radio shack's ceo admits the company is partly to blame for the dismal holiday earnings. however, he remains confident in the turnaround plan. a week after online exchange mt. gox lost close to a half- billion dollars' worth of bitcoins to hackers, another exchange says the same thing has happened to them flexcoin has shut down, saying that hackers stole all of its bitcoins -- 600-thousand-dollars' worth. these troubles have not negatively affected the value of bitcoins ---just one is still worth about 700-dollars. that price has rallied since the mt gox hack. a judge i
for now. the rain earlier in the week kept the deficit from growing, so only about 34% to 35% of average. this is how much we need to make up just to get back to average up to today. little more than ten in san francisco, oakland, sfo, and nearly 17 at santa rosa. we're going to get hardly anything close to that, lucky couple hundredths of an inch. you can see sprinkles across the north bay. you'll get steadier rain as we head into the afternoon hours. you can see the rain falling up to the north. here's what to expect, light rain in the north bay, for the rest of us, it will start moving through during the evening commute. slick spots will develop initially, then taper overnight to scattered showers for tomorrow morning. i'll give you a better time table coming up and amounts to expect and the next rain this weekend. that's coming up in your forecast. cheryl? >> thank you. in the east bay, some parents are fighting a plan to open a probation office for convicts right across the street from an elementary school. it's a story you'll see only on abc 7 news. lincoln elementary is just a few
he is recommending for each show agency and the deficit projections for 10 years. they say it will be low work, but how to make at work. obama will not be including the chain cpi proposal. inflation is measured that would have the effect of lowering social security benefits and other federal benefits. the aarp andsed by liberals in congress. arguing itthat out, was a all a branch for republicans. not willing to do a big deal on the deficit in order to get things under control. by taking that out, they will lose 230 billion or so in deficit reduction. already we know one of the ways will be assuming the senate passes and immigration overall. go much does that cost you these are the kinds of things we will be looking for. perhaps the least effective budgets we have seen in years because congress are it has a toplines appropriations number for this year. they are are ready holding hearings. this is entitlement overhaul out of the midterm. how is the budget actually released today, and to are the surrogates that the white house is sending to capitol hill over the next coming da
moral about running up huge deficits, about out of control welfare bills. if we don't deal with these problems the whole country will be poor. i think we should listen to the words of george carey, the former archbishop of canterbury who said this. the churches should be aware of the dangers of blindly defending a gargantuan welfare budget that increases politician would cut as a matter of economic common sense. i think serious politicians have to engage in this and that should go for everybody. >> ed miliband. [shouting] >> mr. speaker, i join my honorable friend and the prime minister in congratulating team gb on a brilliant performance at the window limits but as the threat of floods passes there's thousands out of their homes. some are still underwater and hundreds of businesses and farms are still struggling to recover. the committee on climate change, the house of commons library and the uk statistical authority have all now said that government investment and flood defenses has fallen. in the light of this an event we have seen, does the prime minister think it's rig
because of legislation that congress passed last year to address the deficits, chronic deficits in the national flood insurance program. they are undoing the work to providing relief. the house will take up an energy bill -- one which will restrict the epa's regulation of carbon emissions by coal-fired plants. this is a big priority of utilities. it would require any limits for new plants to be based on existing technology. that is -- it will be a theme this week. there will be several energy bills, just like there was a theme last week about excessive regulation. >> adriel bettelheim, we thank you for the lookahead. as always sir, thank you for your time. >> my pleasure, sir. >> on the next washington journal, national review columnist talks about us -- joins us to talk about the tea party. followed by randi weingarten. we are joined with daniel in the council of foreign relations. washington journal is live at 7:00 a.m. eastern. >> is this a technique you hope will prove fruitful? reagan hadour of less to do with the hollywood roots per se. ofwasn't the climber hollywood exact
of people felt was ungovernable, chiefly because of the budget deficit and now there's a surplus. is there a national leadership lesson that california provide? >> you've got to be tough on spending. at the end of the day, fiscal discipline is the fundamental predicate of a free society. and you just have to maintain that. secondly, you do have to find a way to create a governing consensus or coalition. in california, we do have a majority democratic party. and we don't have the any constitutional blocking points like the 60-vote requirement in the senate or the division of parties in the house between the house and the senate. >> it is interesting, is there a lesson for president obama no matter how liberal you are, you said, here the president's about to present a budget where he's saying look, the deficits are coming down for now. we've got to spend more. we're only going to get the economy going in a meaningful way if we spend more on infrastructure and the loo i can. >> yeah, spend more but in the framework of adjusting your long-term liabilities so we're in balance. so that
deficit disorder. 25-times the risk for bipolar. and twice the risk for schizophrenia. the risk was still very low. but your risk went up as your dads age. >> these are men over 45. and any conjecture about why? anything specific? >> reporter: this doesn't prove it's age. but we know that the older you are, the more mutations there are in your sperm. and that may be the link here. it doesn't mean that you should rush out and have your kids young. but you need to know that if you wait longer, there is a risk involved. >> fathers and mothers, something to think about tonight. thank you, rich. >>> it was an emotional day, as members of the kennedy family assembled in the courtroom in new york to support one of their own today. ethel kennedy, widow of rfk, listening, as her daughter, kerry, took the stand. her daughter on trial for driving under the influence of a sleeping aid. and today, vividly recalling her father, his death, and the mother who carried the family forward. abc's mara schiavocampo was there. >> reporter: testifying in her own defense, at her drugged driving trial, normally p
deficit disorder,
of the country's crimea region. >> ukraine is the crown jewel. >> this is most seriously the biggest deficit of our lives since the cold war ended. >> pressure is on the mid-west to do something. >> this will get worse before it gets better. >> you got to believe it's over. >> we have to be in this for the long haul. >> it's now unclear just what the west can do about it. >> john kerry arrived in ukraine tomorrow. >> putin is not going to back off this without some real effort to make a verdict. >> a full blown cold war like showdown. >> we dropped 20 degrees since midnight. >> the cold war chess game in the ukraine continues today. by a look at it, we are a long way from check mate. they have seized the crimea union with 6,000 ground and naval forces in the region. the tensions worsened when ukraine's acting president accused russia of executing the military standoff and blocking ukrainian navy vessels. ukraine's new government claims russia issued an ultimatum for forces to surrender within an hour or face an armed assault. russia denies these assaults. the state department said today if t
about saving money all the time and being concerned with deficits and being totally driven by that but not being concerned in saving money when people are in jail for marijuana and mandatory minimums that judges have said were awful and for nonviolent first time offenders serving lifetime sentences in jail costing us $30,000 a year. >> comcast is running this ad in new jersey where medical marijuana is legal. >> yo, you want sushi? i got sushi. i got tuna, salmon, sweet shrimp. i got the finest this area has seen in years. >> you wouldn't buy your sushi from this guy so why would you buy your marijuana from him? >> did i mention that it's national pancake day. marijuana, pancakes, sushi. >>> benjamin netanyahu stirred up controversial and joining me to talk, comedian and "daily beast" columnist and friend of the show, dean ovadala. let's start with pot. marijuana has been huge this year and the pot jokes are a gold mine, i'm sure, for your profession as a political comedian. >> on some level it is but i think we've jumped the shark on pot. when pat robertson came out in fro
the deficit. most important of all, it is about energy independence for our country. it is about working with canada and producing energy in this country so that we get our energy here locally rather than having to get it from the middle east. that is what americans want. they want us to be energy secure in this country. to do that, we need to produce more energy like we are doing in my state of north dakota and montana across the border. movepipeline would mode -- that loyal as well as canadian oil. it is about producing oil here, or getting it from our closest friend and neighbor, canada, rather than being dependent on the middle east. classification you to have to wait on a pipeline, how safe israel transportation of these products versus pipeline transportation? is it.that we are becoming more energy secure. it is great. it is jobs and what people want. to go with that energy, we need infrastructure. that infrastructure includes pipelines as well as moving products safely by train or truck. the keystone xl will take 500 trucks a day off rose in western north dakota. it is a safety is
, the deficits are going on and they are ridiculous. cut the military budgets, they do not have the money for different things. i live in baltimore city. years lived here over 33 and our mayor is such a manipulator. this is how bad it is. mayoryears ago, our manipulator that she is, she is good at selling stuff. million dollars in federal funds for infrastructure and used them to pave the roads in the downtown district, which were not in bad shape, so they could meet the requirements to have a race on labor day. what it really was, the organizers of open wheel racing -- it failed for three years. the second year she told these whopping lies about the revenue. host: julian, greensboro, north carolina. caller: it is your responsible to invest in infrastructure as the government. if you look back in the industrial revolution, the technological advances in transportation would have been impossible without the investment of private investors. the government has not been one to advance the technology. it is up to private investors to put that money out. if you look at your report card, 3.6 tril
's ever proposed for, not for reducing deficit but more domestic spending. we've had huge spending increases, so those are such nonstarters, i don't see how you get common ground. granted, we're living under another budget agreement for now. but it's clear he's moving farther to the left to try and -- for those reasons and he's not trying to move to the middle. >> congressman, you said that three times, he's moved to the left, it's a nonstarter. does that mean i can't ask you about closing loopholes or -- >> yeah, sure, go ahead. >> are there any ways in which you all could maybe come to something and end up with one or two or three of these things and get some of the things that you want? >> yeah, so we just -- our chairman of the ways and means committee, dave camp, put out a specific discussion draft of tax reform, which does just that. it closes loopholes. instead of using the money for spending which increases the deficit -- he has $1.8 trillion in tax increases, half goes for spending. we're saying take the loophole closures and use it to lower tax rates to grow the economy.
trying to cover a 142 million dollar budget deficit. also several board members went on record today saying the district need to look at ways to use toll money to help fund suicide barrier. take that up at the next board meeting in march. >> well this week rain still is not enough to end the worst drought in state history by any means it helps however. this is video of phoenix lake reservoir in marin county. officials say reservoir there are at 70% of capacity. usually about 88 percent this time of year. they will reevaluate in april but officials say because of the rain it's unlikely they require mandatory rartion okay meanwhile the customers will be asked to voluntary reduce water by 20 percent. that never hurts right. >> and the weather service announced that as of today we have now moved from the worst drought in california history to the second worst drought. so still bad but at least we are now financially moving in a more positive direction in terms of the rain. spencer is tracking even more of it from live doppler 7hd and roof of the broadcast center. >> that's right. i
term on trying to boost job growth. over the ten-year window you will see steadily declining deficits. at the end the period i think you'll see a declining debt-to-gdp ratio. that's the right trajectory. >> yesterday we had warren buffett on the program. he said he thinks the proposal would be to boost the earned income tax credit even more, expand that in a bigger way. that's a way to boost wages for people that are working without looking at job losses by raising the minimum wage. how about offering it to a wider variety of people and taking the minimum wage proposal off the table? >> these things are not mutually exclusive. there's no reason you can't work at both ends here. >> is it something you would offer if you did a broad -- not what you're talking about right now, but boosting the income tax credit in a big way, offering it across the aisle as a way of finding compromise, in instead of looking at one from another. i think that would be something republicans would take on heartily. >> we're willing to consider any ideas republicans put on the table. the president is putting t
to the deficit. >> house budget chairman paul ryan already come out swinging against the plan. yet another disappointment and added the president has three years left in his administration and seems determined to do nothing about our fiscal challenges. that's paul ryan. this budget isn't a serious document he says. will this budget proposal help flagging republican opinion of president obama's track record. we turn now to financeer and former treasury official and cnbc economic analyst steve radener. thank you for being here. >> thanks for having me. >> i wanted to start out with your gut reactions to this. is it the expanded credit for low income workers? >> this is a policy statement of what he believes should happen in the budget, more spending on things like the earned income tax credit which is today's headline but also things like infrastructure and pressing needs. he wanted to put out what he believes in and indeed what the democrats believe in in advance of mid-term elections. >> you have a background in private equity yourself and roll with a crowd of people most affected by the c
lucky. numbers, 7 inches in san jose to 16.75 inches in santa rosa. deficit now. the rain today will hopefully keep that ddeficit from buildin not decrease it at all. l low to mid-50s. marrying everybody else except alameda. 57 degrees the warm spot right now. temperatures tomorrow that will be slightly cooler than today. this because of the cold front pushing through and a little wind shift. around 6 0 at the coast. 70, high clouds and sunshine around the bay and inland friday and saturday and low to mid-60s at the coast. more rain is on wait for the back half. weekend. that's coming up in your accuweather seven-day forecast. here's kristen and eric with more news. >>> and the bush dynasty. the win for one of the youngest members of america's best known political family. >>> first, more than 100,000 pieces of mail go up in flames right here in california. this morning, the advice the post office is giving to people who may have lost their letters and packages. >>> and caught on camera. an art thief tries to get eway wi away with a pricey painting but wasn't thinking about a qui
a surplus when he finished his presidency that was turned into a record deficit by the republican president that succeeded him, so we are looking forward to having surrogates like president clinton and others stump for our candidates all across the country, and this week at the dnc meeting, we're going to be making sure that we can continue to focus on continuing our progress and helping to add value to elect democrats up and down the ballot. >> yeah. it is an interesting balance, as i mention, president clinton doing the stumping, hillary clinton doing a foreign policy event, she is down in florida today. these are not midterm stumping events. they've found a division of labor within the family for now. dnc chair debbie wasserman shultz, thanks for your time today. >> thanks, ari. >>> coming up, two years ago tonight, a story we all remember, trayvon martin was shot and killed. a tragedy that sparked a national conversation. we're going to talk about that case and the implications that continue to shape a lot of policy discussions. >>> but first, before we get to that, we have here today a
-authorization that passed congress with bipartisan support , and reduces the annual budget deficits by $16. billion over 10 years. industry professionals across my home state of pennsylvania and nationally, including farmers, foresters, conservationists, researchers, and policy advocates have praised the law as an historic improvement. the federal agriculture policy that will improve land management, support key areas of economic activity, and bolster important investments in education and applied research. susan benedict, an american tree pharmacist thames certified forest owner from state college, pennsylvania, stated, and i quote, as a pennsylvania tree farmer i can happily say this farm bill was well worth the wait. with the promotion of new market opportunities and the biobased markets program and green building markets, improved access to critical conservation programs, an increased regulatory certainty when protecting water quality of my forestings rose, this farm bill is truly the best farm bill yet forests. i applaud the conference committee members for championing strong forestry provisions such
country. we have got 17 trillion dollars in debt. we have an annual deficit this year that will be less than $1 trillion and we are all excited about that. the first time in five years it has been less than $1 trillion. yes, government needs money, but i would say today the government need something more. in these discipline to rein in spending. it needs courage to make tough decisions. it needs commitment to make sure we do everything more efficiently and more effectively than we have done before. we want to work with you to help you do that, to help you set the right priorities which help you pend the money that we appropriate to you. we thank you for being here today. we will have questions. before we do that, i want to turn to my friend, the ranking member. let me say to him that it has been a whirlwind time, but he has been a great partner. we do not always agree on everything, but as we go through negotiations with our senate counterparts to come to this conclusion, it was a team effort. thank you for that. any comments? >> thank you for your willingness to work with us, especiall
and attention deficit issues. the greatest risk was seen in fathers 45 and older. >>> health advocates are pushing the fdaed to stop a powerful painkiller from going to the market. it's called zohydro. it's five to ten times more potent than a similar pill, vicodin. the fda approved it last fall. it goes on the market next month but critics are urging the fda to reconsider because the drug is so potent and potentially addictive. >>> get ready for a change you see on the labels in the market. the obama administration will announce new rules which have bigger and easier to read calorie numbers. serving sizes that reflect reality and separate sugar listings. other listings will be simplified and easier to understand. 12478 >>> president obama asking congress for $300 billion for infrastructure projects. he made this announcement at a train and bus station that was just refurbished. an example of what is possible, he said. transit is expected to run out of money later this year. mr. obama says these projects 49 provide jobs. >>> gay rights activists are celebrating the veto of a contention
in the second half. the cowboys overcoming a deficit, shooting 64% from the field. the finals 72-65 osu. virginia continues to be one of the surprise teams. they beet syracuse outscoring the orange. celebrating an amazing season on senior day in charles otsville. the cavaliers had the first out right a.c.c. title in 33 years. the orange dropped three of their last four. >> on the links, tiger woods is trying to make noise after barely making the cut at the honda classic. woods beginning the third round it 11 shots behind rory mcilroy. china charged up the board, posting seven birdies. woods jumped 49 spots. seven behind the leader entering the final round. >> finally tempers flare in the english premier league. the manager, al-alan pardew ped butting david meyler. he wassest jected and -- he was ejected and finned $168,000. >> sydney's gay and lesbian community celebrated the mardi grass parade. more than 10,000 watched the spectacle. the australian navy band marched alongside secondly clad dancers. [ ♪ music ] >> crowds filled the streets of rio de janeiro for its mardi gras parties
. the white house has made the case that the president's/two deficit has been mitigated. 's slash toidents deficit has been mitigated. on the front page of "the washington post," the republican response. the budget from the republicans will focus on welfare reform. a 204yan will publish page critique, questioning the efficacy of dozens of initiatives and underscoring where republicans say consolidation or spending reductions are needed. democrats line. caller: my name is patrick. i want to talk about the guy that just called talking about the revolt that he wants people to revolt in america. this guy is sitting on his high somewhere,e suburbs eating snickers bars. we are not going to go there. ukraine is a part of russia. it has been a part of russia for the last couple hundred years. we all know that. america, the european union, they have no business in the affairs of russia and ukraine. america needs to clean up its own house before you can go overseas. those folks are fighting for independence. host: that as a last call. we continue on with our discretion about ukraine. josh rogin will
in new tax. he cuts the military greatly in my opinion not for deficit reduction but for more domestic spending. it just shows the priorities have moved farther to the left and the point i'm trying to make here we have three years left of this administration and we have divided government. normally in a situation like that you would try to fine common ground, work forward common ground. he's moving away from that and tacked hard to the left. yes you could say that's because we're in an election year and that may be why. it's happening nevertheless. i don't know the reasons but he's moving to the left and it makes it hard to bridge to the gap. >> democrats will say they have tried to extend a hand and have not been reciprocated. >> we have a budget agreement. i want to see us build on that success. >> give me a preview of what the paul ryan budget will look like. in years past a lot of the saving have come from overhauling medicare and medicaid. are those proposals include in the paul ryan 2015 budget. >> those programs are going bankrupt and need to be restored, need to be solvent beli
, eliminate all of that, we would still be running a deficit of half of one dollar trillion each year. room,e elephant in the the big animal in the room, the gorilla in the room that everyone is avoiding is a mandatory spending. , we will address that keep digging ourselves further and further in the hole. that is the real problem and we are trying to, like i say, solve it. on the backs of the military. that can't be done. guest: you are going to hear that a lot. we are solving our problems on the back of the military. he is right, discretionary spending is a small piece of this at the end of the day, but in the broader picture there has across themade federal budget. this is a big piece of discretionary spending. i think it is about half of what we spend on discretionary spending. it is a big piece of the pie to look at. we are in a time of change for the military. this is a time when we can reevaluate put the military should be doing and how much should be spending in this nation's history. active military outside of los angeles, california, good morning. caller: thank you for having me o
debt, not vets. with $17 trillion in debt and massive annual deficits, our country faces a fiscal crisis of unparalleled scope. now is not the time in any federal department to spend money we don't have. to be sure, there's much to like in the sashed sanders bill and e components were presented as separate, smaller as part of a carefully considered long-term strategy to reform the v.a., hold leadership accountable and improve service to veterans, we'd have no problem expending enthusiastic support. as with many bloated legislative projects in today's washington, the overreaching and overpromising in this bill will only lead to disappointment and recriminations as the high cost and unanticipated consequences are revealed. that will be followed by demands for an entirely new round of comprehensive reforms and the cycle will begin anew. congress should go back to the drawing board, assume a more modest approach and take up these proposals on an individual basis. that's the better path to achieving enduring and effective reform and accountability for the services we provide to our vet
remained overvalued despite an account deficit. >> reporter: the debt of the country has been falling, though, as a result, yields have been rising. they're not worried you're not going to be able to reservice it. are you worried about a restructuring? >> we are not worried, but ukraine needs external help for the next year or two. i think with sensible economic policies and with international support from the imf, u.s. and the eu, we can return to the market back within six months, maximum. >> reporter: if you listen to a discussion about ukraine and the united states, it's all about this is the eu or russia, a forced choice, some kind of big monumental decision for ukraine. do you see it so divided, choosing between eu and russia? >> ukrainians would not want to make it look like this. it wants help from all of its neighbors including russia and on the other side, but the majority of the population definitely supports european standards of business, democracy, free market economy. >> reporter: thanks so much for joining us, mr. fiala. we really appreciate it. tomas fiala, ceo of dra
. it was about $11 billion in deficit this year. the new government in kiev said the country is going to need about $35 billion over the next two years just to survive. the i.m.s. is working on a plan along with the european union and united states, saying they're going to try and help but can't do anything until there is a government in place because an official government hahas to those kind of requests and the e.u. and i.m.f. can't negotiate with anything other than official governments. they need a prim minister, a cabinet and that's all underway. it's supposed to be in place by thursday but still a long road ahead for ukraine. >> all right, jennifer glasse in ukraine, thank you very much. in our next hour, we will be taking a closer look at ukraine's former prime minister and her role in shape that go countries future. these are live images coming out of parliament in ukraine and as you can see, the tensions there still exist. also viktor yanukovych still a man on the run. >> the u.s. state department is expelling three venezuelan diplomats, just days after a group of american officials
powerlines in africa. financial prudence dictates we reduce our deficits by not spending the money at all. if we must spend it and must choose between africa or america, mr. speaker, i choose spending it in america. america spends more than $40 billion a year on foreign aid, money we do not have, borrow to get and cannot afford to pay back. mr. speaker, if financial irresponsibility and economic insanity have a home, rest assured they live in washington, d.c. the speaker pro tempore: the gentleman yields back the balance of his time. for what purpose does the gentleman from massachusetts seek recognition? >> unanimous consent to address the house for one minute. the speaker pro tempore: without objection, the gentleman from massachusetts is recognized for one minute. >> mr. speaker, two months ago emergency unemployment benefits expired for over one million americans, including 20,000 veterans and yet this house has not taken up legislation to provide these workers and families with necessary relief. mr. tierney: i rise to ask immediate action on the unemployment compensation act which pr
be running a deficit of a half trillion dollars a year. the real problem, the, i was going to say elephant, but i'm saying the big animal in the room, gorilla in the room that, that everybody's avoiding is the mandatory spending. and unless we address that, we're just going to keep digging ourselves further and further in the hole. and that is the real problem. and we're trying to, like i say, solve it on the backs of our military. can't be done. >> excuse me. what are your priorities for marking up the fiscal year 2015 defense authorization bill? >> getting it done by october 1st. that is by main, and you're going to hear, that is all i'm going to be talking about between here and october because i'm really concerned. i brought that up in the meeting with the big eight and secretary and general dempsey. it is incumbent upon us to get that done. last year we got the defense authorization bill done on the last day the senate was in session. or we would have missed it. now we have passed that bill every year for 51 years and some people think we have to do it for 52 years because we've done
's advocate here. the country has a massive deficit. we need the money. so why should the country continue to subsidize the most profitable industry, rather. this this is according to sage works. oil and gas, the energy industry, most profitable. >> well, alex, and i would ask, you know, why should they subsidize the oil industry. and the fact is, they don't. percentage depletion is not a subsidy. it's not a loophole. and that's the thing that's perplexing to me. why, if it's not broken, don't fix it. i would challenge those who would say that to take a look at percentage depletion. it's not a subsidy. it's not a loophole. so i would agree with them on that point. >> okay. back to the politics of all this. this is the latest in a string of policies that have fractured the gop. who is in charge of the party? >> well, i think any time a majority party is outside of the white house, and you could have said the same thing during the bush years with the democrats. you know, there's just a lot of discussion, a lot of chatter out there. if you're in the minority. but the fact is, i think even rep
that had obviously unsustainable balance of payment situations and that had current account deficits and that needed to have some kind of sell-off to rebalance and other countries where the fundamentals were fine. frankly, it seems like those fears weren't born out. i'm wondering what you think of the dynamic now give whatn what happening and in particular whether or not you think that this is going to have contagion effects elsewhere. >> this is an important question. the emerging markets are in the middle of a major capital outflow. i think some of the data shows that there's been money leaving emerging markets for over 15 weeks already now. >> 18. >> 18 weeks. and i think that we shouldn't expect this to change the matters very much. i think rebecca's question was spot on. how much has the russian action over the weekend really changed the macroeconomic situation and i think very little. i think that applies to the emerging markets as an asset class as well. >> but let me say something. it hasn't changed the macrosituation but it has changed the approach to risk. look what's going
at home than we buy from the rest of the world. we have cut our deficits by more than half since i took office. and for the first time in over a decade business leaders around the world have declared that china's no longer the world's number one place to invest. america is. we have made great progress, but we must do more to rebuild our economy and new foundation for growth and prosperity. i believe that what unites the people of this nation, regardless of race or region or party, young or old, rich or poor, is the simple profound belief in opportunity for all. the notion that if you work hard and take responsibility you can get ahead. that belief has suffered some serious blows. over more than three decades, even before the great recession hit, massive shifts in technology and global competition have eliminated good middle-class jobs and weakened the economic foundations that families depend on. today after four years of economic growth, corporate profits and stock prices have rarely been higher and those at the top have never done better. but average wages have barely budget. inequali
't have enough import to fund our consumption or enough saving to support our deficit. what are we going to do if china changes and we don't. >> but i gather that you think they're on the ascendency and we are clearly on the decline. that is the -- i will say, that was my takeaway. >> they are rebalancing their model to keep the growth and development story going and that will certainly take them to a larger scale of their economy than ours, at some point in the next five to ten years. >> gdp. >> their per capta gdp, joe, is going to be increasing, but at a much slower pace. for a long time. >> multiplied out and that's why it's bigger. >> for a long time. are we on the decline? that's the big debate in america. we continue to undersave, underinvest in people, infrastructure, and capacity. and if we don't get that together, then their ascendency will coincide with our decline. >> we've had periods like this before. >> yeah. >> i mean, you're optimistic we get it together or do you think we're the roman empire? >> no, look, i hope we get it together. what i don't see is a debate on the st
to have it happen during -- when things were terrible five years ago. but we can have a deficit which creates more debt but not at a rate that this grows faster than gdp grows. if gdp is going to grow at 2% in real terms, but the fed has a policy that they're shooting for 2% inflation on top of that, that would mean 4% in terms of nominal gdp and you literally could have debt grow at 4% and it would maintain the same relationship to no, ma'amal gdp as it does now. the trend is wrong. there is a danger of that goes wrong. i don't like seeing it go up as a percentage of gdp. this country is in wonderful shape. >> if you say government pensions aren't the problem because the government has the power to tax, what do you say to somebody who has a private pension? should they be worried about it? should they think they are still going to get it when they retire. >> it's protected by the pension benefit guarantee corps. that has come into play in many pension plans. the state municipal pension plans, the one right here in omaha, is in terrible shape. and almost out of resources. it's a healt
talk about deficits and debt. we could talk about data. but in the end, treasuries really when it gets nasty, when that tina the only -- that there is no alternative to stocks, that changes rather abruptly when stocks go down. and then tina becomes there is no alternative to being long treasuries. we want to keep cognizant of that. to the end the japanese are doing everything in their power to keep the yen weak, let's look at how all that stimulus and various ways they're trying to goose their economy have panned out. one way they've made good strides on. currently the latest reads is 3.7. now, that is the basic lowest rates since july of '07. during that interim period between '07 and now the high was 5.5. the message to this is is that the japanese may have issues for the last 25 years. but huge high unemployment certainly does not seem to be one of them but they made some inroads. base wage, recent data. this is important. base wages were only up 1/10 year over year. one of the things they're trying to do is goose inflation. if you adjust the wages for inflatio
if you passed obamacare, you were going to save money and was going to help the deficit. i don't even know where they came up with those numbers. then the president had 29 different waivers since that time. so changes in the law. now we know how horrendous the rollout was. now we hear 4 million. the president said it at least five times in the cut we saw. 4 million people have signed up. how many have gone through fulfillment and registered for the program? that's another question. now they expect us to believe that kathleen sebelius never said 7 million. good thing eric has a vcr. >> i think success looks like at least 7 million people having signed up by the end of march 2014. >> yes, that was from my vcr. >> thank you. >> but that's the crazy part. they keep saying things. you know, you're going to save $2500 per family. turns out it's going to cost you $2500 more. you can keep your doctor. you can't keep your doctor. they keep saying things and then months later saying, oh, we never said that. good thing we have those vcrs and tapes and our little editors back there pulling the so
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